Definition
eXtensible Business Reporting Language — the electronic format mandated by the RBI and MCA for submission of financial data by banks and listed companies. In debt recovery proceedings, XBRL-filed financials of corporate borrowers serve as authentic evidence of the borrower's financial position. Courts admit XBRL-based financial statements as primary evidence of the borrower's net worth and loan utilisation.
Need Expert Advice on XBRL Filing?
For specific advice on how XBRL Filing applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 25+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates